Haha...Is really bored while waiting for signal, but sometimes i see the big candles move up and down quickly between a few minutes while you still waiting for the valid signal during the peak hour, i'm really really cant stand for it and hope to jump in to scalp for a 'little' pips before i enter the valid signal... hahaha... Besides that, i've tested your trading system, is really a good system!!! REALLY!!! And i know ist was out of topic if we discuss here, or can you just pm me your scalp style?

Thank in advance...

Regards,
luciferey

Go to forexfactory and search for 'Speed Trap'.. if the thread still exist.

If it confuses you (SR Lines), and this applies to everybody who finds S/R Lines Analysis more damaging to their trading progress, to leave this analysis OUT of your analysis tool for now. Or.. just use previous day's high low (without the rule of respecting the SR atleast twice) as their S-SR line. Probably it's my fault not to write a clearer guide on S-SR Line (which I might have to re-write it again ).

Secondly, I've said it somewhere here in the thread that I am not rigid with S-SR Lines with Main Signal. I am VERY rigid and strict with S-SR Line application when it comes to Secondary Signal. Again, I should've made this clear in the guide (another reason for a re-write.. pfft.. hehehe). I still maintain S-SR Line Analysis avoid us effectively from entering a fake Macfibo but I can understand it can cause confusion most traders.. so Muneeb and others who think S-SR Line is confusing, just leave it out.. for now.

Good observation mate, but keep in mind that Stoch is an oscillator... so basing your analysis on it is wrong by principle. Look at it as confirmation, not as green light. Even more, check divergences, on different TF, instead of just overbought/oversold itself.

What shouldnt let you go into a trade and THEN let you open the indie to search confirmation, is price action: it's never wrong

For the stoch settings, I prefer using 14.3.3

Originally Posted by Muneeb

I have found something which works with Macfibo

I use Stoch with these settings 10,3,3 MA Simple.

when 5MA cross 20MA, I watch my stoch if it is over bought or over sell, if it is over bought and the signal is giving a buy signal, I dont take the trade and it works. Same goes for Selling.

This is what I have found, you can back test it yourself and see if it works.
Have a look at USD CAD H1 chart of today, with Stoch you will see what I am talking.

I may be wrong, but this is just my 2 cents, to contribute

Originally Posted by vessel18

OK - looks like I need to get out...

That's a good idea Muneeb and Cryagony's take on oscillators is accurate as well. I never dismiss one's idea but what I usually ask them (when they have an idea that might work) is the following :

b) Confirm it that your idea works really well in those 10 random trading signals - IF doesn't work, back to drawing board and then repeat step a)

c) One you can confirm in b) that it works, then do this (Test Phase 2) : Backtest it and log it thoroughly (read guide ver 1.1) for over 200 trades and see it the stats are good (only you can decide what is your gauge as Trading System Success) - If not good, modify and repeat step a)

d) If the stats in Test Phase 2 in step c) are all good, further test it (Test Phase 3) minimum 500 trades and see the stats if it's good.

e) If Test Phase 3 in step d) has good stats, then you paper trade (Test Phase 4) it for 20-40 trades before trade it Live. - If not good, modify and repeat step a)

f) If Test Phase 4 is good in step e), trade it live.

Ridiculous list?? I know but unfortunately that is roughly how you should test a Trading System before use it Live. Forex Trading is real business, we gotta treat it seriously. (Trust me.. Rob Booker's Backtest phase far more worse and longer! ). Trust me on this : BACKTEST A SYSTEM THOROUGHLY DOES WONDERS TO YOUR TRADING PSYCHOLOGY!

Good observation mate, but keep in mind that Stoch is an oscillator... so basing your analysis on it is wrong by principle. Look at it as confirmation, not as green light. Even more, check divergences, on different TF, instead of just overbought/oversold itself.

What shouldnt let you go into a trade and THEN let you open the indie to search confirmation, is price action: it's never wrong

For the stoch settings, I prefer using 14.3.3

Originally Posted by Muneeb

I have found something which works with Macfibo

I use Stoch with these settings 10,3,3 MA Simple.

when 5MA cross 20MA, I watch my stoch if it is over bought or over sell, if it is over bought and the signal is giving a buy signal, I dont take the trade and it works. Same goes for Selling.

This is what I have found, you can back test it yourself and see if it works.
Have a look at USD CAD H1 chart of today, with Stoch you will see what I am talking.

I may be wrong, but this is just my 2 cents, to contribute

Originally Posted by cyanidez

Anybody going for the EURUSD trade that is setting up? I'm concerned about time of day...

Assuming the time of your post, it's during after London Close. Always good to avoid signals in those times buddy.

There are times when the MA are 'crossing' even before the candle closed. Even in that situation, we don't pull the trigger yet. We pull the trigger when it is 'crossed', in other words, we wait until the candle that led to the 'crossing' to be CLOSED to confirm the 'crossing' hence the word 'crossed'.

Ahh thankyou, ive got it now. On some of your charts it looked like another candle was left to form following the crossover candle but I understand that this isn't what happened in reality. Great system btw and lots of thorough detail from you.

Good observation mate, but keep in mind that Stoch is an oscillator... so basing your analysis on it is wrong by principle. Look at it as confirmation, not as green light. Even more, check divergences, on different TF, instead of just overbought/oversold itself.

What shouldnt let you go into a trade and THEN let you open the indie to search confirmation, is price action: it's never wrong

For the stoch settings, I prefer using 14.3.3

Originally Posted by Muneeb

I have found something which works with Macfibo

I use Stoch with these settings 10,3,3 MA Simple.

when 5MA cross 20MA, I watch my stoch if it is over bought or over sell, if it is over bought and the signal is giving a buy signal, I dont take the trade and it works. Same goes for Selling.

This is what I have found, you can back test it yourself and see if it works.
Have a look at USD CAD H1 chart of today, with Stoch you will see what I am talking.

I may be wrong, but this is just my 2 cents, to contribute

Originally Posted by richhand

Ahh thankyou, ive got it now. On some of your charts it looked like another candle was left to form following the crossover candle but I understand that this isn't what happened in reality. Great system btw and lots of thorough detail from you.

There were two trading signals and only one was valid (interms of rules stated in ver 1.1). There was a Buy signal, in which i took without hesitation. 1.618 was more or less equal to Significant Resistance (not shown in the chart for clarity and not to confuse others). A nice 22 pips profit. If you notice I mark the previous day's high as recent. Let's start there for now (Muneeb, are you reading? hehe). I realised Significant S/R Line Analysis is tricky and 'subjective' to others so just leave it alone for now.

The second main signal came really late in yesterday's trading session (after London Close). I understand if some still want to trade this signal but I won't and will not log any signal came from this session (Post-London close session).

MACFIBO PERFORMANCE Q1 REVIEW

So far Macfibo this year doing good for EURUSD and XAUUSD. EURUSD harvested 864 pips (more or less 290+ pips per month average) and XAUUSD harvested 1271 pips (more or less 400+ pips per month average). Mind you, all of this based on basic entries (no ver 1.1 application here) and trading in Asian to London Session only.

Macfibo in EURUSD, in the last 10 trades have harvested net profit of more than 40 pips whilst XAUUSD in the last 10 trades have harvested net profit of more than 150 pips. All good in my view.

One good friend of mine, another Macfibo trader have shared with me one interesting stat. He has tested EURUSD Macfibo and Re-entry Signal (using only previous day High Low as his Significant SR Line) on London and London-US overlap session only. He tested it so far from January 2009 until Late July 2009. The stats he have obtained are as follows :

I also profited on the first trade, but not as much, because my fib was set differently and the 1.618 line was lower on mine. Why did you set Point B of the fibonacci to that candle and not the low 9 candles ahead of it (which is what I did)?

I figured price had gone up and back down since that last low, so this would be my Point B

Thanks Sufiansaid for the 1.1 I really appreciate you helping us
And Sufiansaid how do you tackle the weekend, If a trade is still going and hasn't hit the TP, but still hasn't hit a 5x8 cross, do you just exit the trade before the market closes even if at a loss?